Shilling shows resilience amidst corporate buying pressure
13th September 2023
However, however market analyst noted that the unit remains susceptible to increased “buying pressure from corporate” and some manufacturing entities.
Shilling shows resilience amidst corporate buying pressure
NewVision Reporter
@NewVision
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The Uganda shilling exhibited stability in Wednesday’s trading session, hovering confidently within the range of 3715 to 3725 against the US dollar.
However, however market analyst noted that the unit remains susceptible to increased “buying pressure from corporate” and some manufacturing entities.
Meanwhile, the money markets were liquid according to Absa with overnights averaging at 9.81%, prompting the Bank of Uganda to conduct an overnight mop-up repo.
The Bank of Uganda conducted a treasury bill auction with yields on the 91-day and 182-day clearing flat at 10.384% and 12.362% respectively while the 364-day maturity dropped to 12.602% compared to the previous auction which had cleared at 13.00%.
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